Cheap Homes for Rent in Tempe, AZ from $700 (186 Rentals)

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 445 S Dobson Rd

445 S Dobson Rd

MesaAZ85202

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 1718 S Longmore

1718 S Longmore

MesaAZ85202
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044

New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options

Find the Best Phoenix Neighborhoods to Rent and Essential Tips on Getting Around Town, the City's Unique History, Must-try Local Food, and the Outdoor Culture.

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property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
property at 5312 E Taylor St

5312 E Taylor St

PhoenixAZ85008

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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property at 3313 N 68th St

3313 N 68th St

ScottsdaleAZ85251

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Tempe, AZ Local Guide

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 12/08/2025

Current apartment rentals in the Tempe, AZ area range in price from $695 to $21,611 with an overall median price of $2,595. The three Tempe neighborhoods with the lowest median rent pricing are Alameda at $695, Guadalupe at $899, and Apache at $695. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Alameda$1,920$6951202
Guadalupe$1,999$89995
Apache$2,014$695604
The Lakes$2,074$722206
Tally Ho Farms Raintree$2,095$1,245128
South Tempe$2,387$899402
West Chandler$5,681$1,148342

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at Vista Village on Van Buren in the South Phoenix neighborhood priced from $649. Sentry Tempe in the South Phoenix neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $722. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Vista Village on Van BurenStudioStudio,1BA$649
Sentry TempeReef1BR,1BA$722
Valencia ParkSonomaStudio,1BA$745
SoL4BR/4BA - Silver4BR,4BA$760
Aster on UniversityS1 CStudio,1BA$799
TerrasolA11BR,1BA$820
Papago VistaJunior One Bedroom1BR,1BA$825
The Molino ApartmentsStudio 325sqftStudio,1BA$849
The Atrium1x11BR,1BA$850
Santorini Villa Apartments1 Bedroom1BR,1BA$875

Best Value Apartments for Rent in Tempe, AZ

As of December 08, 2025 the best value apartment in the Tempe area is the $0.53 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $999. The second greatest value Tempe apartment is the ASP3x2.5 Model at Portola Red Mountain starting at $1,999 with a $1.29 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Tempe apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.53
Portola Red MountainASP3x2.53BR,2.5BA$1.29
Nine20 TempeD1 PHPV4BR,4BA$0.75
Villas at PapagoTwo Bedroom1BR,1BA$0.93
Avenue 8B12BR,2BA$1.14
Tempe Park PlaceOasis w/ Balcony2BR,2BA$1.32
New Horizons2 Bed 2 Bath2BR,2BA$1.26
Corsican2 Bed - 1 Bath2BR,1BA$1.26
Sago GardensSingle Story2BR,1BA$1.24
University ParkTwo Bedroom Two Bathroom Ensuite2BR,2BA$1.25

A Phoenix Expert's Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Working at a top Phoenix employer? Get the inside scoop on renting apartments in nearby neighborhoods like Encanto, Coronado, Riverside, and South Mountain Village for a great life and easy commute.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Expert's Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

A Local Experts Guide to The 10 Best Neighborhoods Near Universities and Colleges in the Phoenix metro area for affordable living. Find your perfect Phoenix apartment, condo, or rental home today at ApartmentHomeliving.com

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Tempe, AZ

Ranked #2

Among cities in Arizona for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Tempe, AZ

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Tempe, AZ Rentals by Map

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See the most popular apartments and homes in Tempe, AZ

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Frequently Asked Questions about Tempe

What type of rentals are currently available in Tempe?

There are currently 1179 Apartments for Rent in Tempe, AZ with pricing that ranges from $649 to $27,703. There are also 782 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tempe ranging from $700 to $14,995.

What is the current price range for Rental Homes in Tempe?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Tempe ranges from $700 to $14,995 with an average monthly rent of $2,473.

How much are larger Three and Four Bedroom Rentals in Tempe?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Tempe range from $775 to $27,703, while Three Bedroom Homes, Condos, and Townhomes for rent range from $999 to $14,995. Four Bedroom Single-Family rentals are also available starting from $725 and Four Bedroom Apartments start at $695.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!